Musk, CZ Meme Exchange Sends GM Coin Soaring; Market Cap Tops $3 Million
Summary
- Elon Musk and Changpeng Zhao exchanged meme images on X, sending the related meme coin GM sharply higher.
- According to GMGN data, GM's market capitalization rose above $3 million.
- GM gained more than 259% on the day.
Forecast Trend Report by Period
A meme coin linked to an exchange of meme images between Tesla Chief Executive Officer Elon Musk and Binance founder Changpeng Zhao, known as CZ, surged on X, formerly known as Twitter.
Crypto outlet Odaily reported on November 6 that Musk posted a CZ-related meme image in response to a user's post checking on conditions in the digital-asset market. The post was interpreted as a reference to the broader decline across cryptocurrencies.
CZ responded with the well-known "I took an arrow to the knee" meme from the game The Elder Scrolls V: Skyrim. OKX Chief Executive Officer Star Xu also joined the exchange.
As the posts drew attention, the related meme coin GM, or GREEN MORNING, also jumped. GMGN data showed GM's market capitalization climbed above $3 million, while its gain on the day exceeded 259%.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.